First off, according to the National Association of Realtors and the U.S. Census Bureau, home sales bounced up by 5.9 percent compared to last year, which means that all in all last year set 2017 up for success to come. What’s more, new homes are up by a highly encouraging 17.8 percent from last year, which means that low inventory issues that slowed progress in 2016 are being addressed, paving a bright path ahead for homebuyers and sellers alike.

2016 saw mortgage interest rates hover at near historic lows, as the Fed held off—for the most part—on major changes or overhauls to figures. As we head into 2017, the National Association of Realtors is predicting a slight climb in those numbers as we make our way towards spring and summer, but not to worry, the rates predicated are moderate and aren’t expected to hugely impact the average homebuyer’s bottom line too much.

Another factor that’s sure to brighten 2017 is the groundswell of positive builder sentiment. One of the biggest challenges of 2016’s housing market was inventory, which drove up home prices and made the market more competitive than ever. Well, homebuyers and sellers can take a deep breath of relief as builders are at work on new-build homes that amount to a fifteen-year high in sentiment. This means that new-home construction is on the incline, but builders are confident that progress will continue. This should alleviate some of the high housing prices out there, while making it easier for home sellers to transition to their next property without having to fight tooth and nail.

All in all, 2016’s steady progress set a compelling stage for the 2017 housing market. Here in the Minneapolis area, growth has been booming in the Twin Cities as well as in nearby suburbs like Eden Prairie, where countless Minnesotans are looking to buy a home in one of Hennepin County’s most desirable locations. Predictions for 2017’s housing market are encouraging, and buyers and sellers should take heart in the developments pundits are predicting. If you are looking to buy a home in the Minneapolis or Eden Prairie areas in 2017, begin your search today with the help of an experienced, top reviewed real estate agent who can guide you through every stop of the home buying process. Make 2017 the year you became a homeowner or finally found the home of your dreams.

At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie’s esteemed small business community. Since 1995, we’ve offered the very best in Twin Cities real estate, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your home ownership goals are delivered. So, if you’re considering buying or selling your Eden Prairie area home this summer, now is the time to enlist the help of a real estate professional who can help you make the most of this season’s extraordinary market.

A statement released by the Federal Reserve read, "…the case for an increase in the federal funds rate has strengthened but [the committee] decided, for the time being, to wait for further evidence of continued progress towards its objectives.” In other words, the current state of the economy is strong, but the Fed is reserving judgment for just a bit longer as it assesses economic rates of progress.

Hints at a December rate hike seemed readable however, as three of the FOMC members expressed dissent from Chair Janet Yelen’s leading decision to keep mortgage interest rates stagnant. The next Federal Reserve committee meeting will take place December 13 and 14, so it will be over two months before we’ll know whether to expect rate hikes as a result.

As for more localized developments, Finance-Commerce.com reports that permits to construct single-family homes in the Twin Cities region was up by 38% in September. What does this mean for potential homeowners and homebuyers in the Twin Cities and Eden Prairie areas? For starters, this area saw exceptional inventory demand in 2016, and an increase in building permits for much-desirable single-family homes is an encouraging development that could drive housing prices a bit lower, and make a move more feasible for families seeking their dream home.

What’s more: combine that local bit of news with the Fed’s decision to hold off on raising mortgage interest rates for now and you’ve got the perfect recipe for homeownership. Those interested in buying a home in the Eden Prairie or Twin Cities region can do so with financial confidence, knowing that they are mining historically low interest rates. Likewise, a boost in local inventory is sure to diversify your housing options if you’re on the hunt. No matter what your home ownership goals are, now is a special window in which to explore your options and lay down roots of your own this autumn.

At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie’s esteemed small business community. Since 1995, we’ve offered the very best in Twin Cities real estate, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your home ownership goals are delivered. So, if you’re considering buying or selling your Eden Prairie area home, now is the time to enlist the help of a real estate professional who can help you make the most of this season’s extraordinary market.

For starters, the
National Association of Realtors recently reported that the U.K.’s exit
from the EU could result in a significant real estate boost in the U.S. The
National Association of Realtors’ Chief Economist, Lawrence Yun, commented on
this potential development, saying, "Demand for U.S. real estate could rise,” as
a result of U.K. based investors fleeing for higher ground, so to speak. With
United Kingdom currency rates diving southward, the United States’ burgeoning
real estate market may beckon European developers, translating to possible
gains for the American market.

Likewise, other real estate pundits have submitted their own
two cents, including Greg McBride—Chief Financial Analyst at Bankrate.com—who
predicts that Brexit results could cause U.S. mortgage rates to dive even
lower: "Mortgage rates will tumble, possibly hitting new record lows. If you’re
a borrower,” McBridge encourages, "don’t wait to lock in your rate, as this
opportunity may not last long.”

While the United Kingdom’s exit from the European Union may
bolster a domestic real estate market that’s already on the upswing, how will
it affect the Twin Cities real estate market specifically? Of course, there are
no guarantees that U.K. economic unrest will directly translate to gains in the
local market, however it is worth
noting that the Minneapolis—St. Paul region has enjoyed unprecedented demand
and growth in the past few years. So, for investors abroad staking their claim
in stable U.S. markets, the Twin Cities region may seem like an attractive
locale in which to invest, buy, or set up shop.

Likewise, those looking to buy or sell in the Minneapolis
and Eden Prairie areas this summer could reap the added benefit of
near-historic lows in home mortgage financing interest rates. All in all, the
Brexit results are certainly uncharted territory for the EU, but here in the
U.S. we may see some unexpected economic benefits. Because the Minneapolis
area’s real estate market is already on a steady up-and-up, the added positive
influx may push stats to record-breaking levels. Just as Bankrate.com’s Chief
Financial Analyst advised: don’t wait to lock in your
rate!

At Helgeson Platzke Real Estate Group, we are proud to be a
member of Eden Prairie’s esteemed small business community. Since 1995, we’ve
offered the very best in Twin Cities real estate, earning our community’s trust
as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our
staff has both the knowledge and experience necessary to ensure that your home
ownership goals are delivered. So, if you’re considering buying or selling your
Eden Prairie area home this summer, now is the time to enlist the help of a
real estate professional who can help you make the most of this season’s
extraordinary market.

Furthermore, the month of May brought plenty more good news
for Minneapolis area home buyers and sellers, as it marked the eighteenth
consecutive month where home purchases surpassed last year’s rates. In May, the
Twin Cities region enjoyed a 5.3% increase in home sales compared to this time
last year, along with a near 6% increase in the median home sale price, as
well. Cotty Lowry, president-elect of the Minneapolis Area Association of
Realtors, explained these significant boosts, saying, "Interest rates and job
growth are fueling demand in our market.”

So, what do these encouraging developments mean for home buyers
and seller in the Eden Prairie and Twin Cities areas? For starters, it is
clearer than ever that the local real estate market is enjoying unprecedented
growth, which translates to an exceptional opportunity for those eyeing the
housing market this summer. Whether you are interested in buying or selling in
the Eden Prairie or the greater Minneapolis area, there’s good news for both
parties.

For homebuyers: mortgage interest rates are hovering at
historic lows. While the Fed has held off on raising rates, and reports
indicate that rates will remain unchanged for the immediate future—now is a
rare and secure window in which to take advantage of near all-time low interest
rates. For home sellers: enthusiastic demand and a lean inventory have driven
up median home sale prices to just below 2006’s record. This means that you can
sell your home with confidence, then wisely re-invest in a housing market that
shows no signs of slowing down any time soon.

All in all, May demonstrated itself as an undoubtedly
historic month for the Twin Cities real estate market, proving that there’s no
time like the present when it comes to staking your claim in the Minneapolis
area’s housing scene.

At Helgeson Platzke Real Estate Group, we offer
the very best in Eden Prairie Real Estate. Since 1995, we’ve earned our
community’s trust as the #1 sales team in the Eden Prairie area. With over
4,500 homes sold, our staff has both the knowledge and experience necessary to
ensure that your home ownership goals are delivered. So, if you’re considering
buying or selling your Eden Prairie area home this summer, now is the time to
enlist the help of a real estate professional who can help you make the most of
the season’s extraordinary market.

Reviews

I have purchased 4 homes and my experience with Ryan was the best, bar none. From the moment I contacted Ryan until the closing of my home he was a pleasure to work with. Actually more than that. Ryan was a source of information and support. He kept in regular but unintrusive contact and allowed me to process all the options that were presented to me. When life got in the way and provided more than the usual amount of stress he was always available with a ready ear or email but always maintained a professional relationship. I could not have anticipated or asked for a better realtor. He never once tried to persuade me to purchase a home I felt was out of my comfort zone, even though I had qualified for a larger mortgage. I found this reassuring and only added to his professionalism. To top it all off, my kids (ages 4 and 6) adored him. This made going to his office and home shopping easier and more enjoyable. I would not hesitate to recommend Ryan Platzke to anyone in need of a realtor. His experience in navigating the real estate maze was superior. I am grateful that Ryan was by my side.

Kelly Boss

We decided to work with Brace to sell our home based on his reputation as being Eden Prairie's #1 Homeseller since 1995 and his team delivered beyond our expectations. Brace had our home under contract within one week of listing it on the market. Brace provided excellent advice on the list price ("Price right and hold tight"!) and suggested some cosmetic changes that made our house very attractive to potential buyers. Brace's excellent marketing strategy ensured everyone looking for a home in our area knew about our property, which resulted in 27 showings in one week! In addition to getting the house under contract, Brace's entire team ensured that the full process up through closing went smoothly. We didn't have one delay and the house closed in 6 weeks from the day the contract was ratified. If you are looking for a professional team that will partner with you to sell your home quickly, then contact Brace today."

Audra Faiola & Alex Martin

Many thanks to you and your team. You, Cindy and Tiffini were great to work with. As I have always known, but sometimes forget, it always pays to go with the best, and you and your team are THE BEST. Thanks again.

Gary & Laurel Pennebaker

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